News

| Litigation & Dispute Resolution
February 20th, 2018

Gornitzky represented Osem Investments Ltd. in a motion to approve a class action filed against it, in the amount of NIS 1 Billion.

Gornitzky represented Osem Investments Ltd. in a motion to approve a class action filed against it (along with Strauss Group), in the amount of NIS 1,020,000,000. In the motion, the plaintiff claimed that Osem had misled consumers to believe that its 'Kosher' chicken seasoning soup and its 'Kosher L'Mehadrin' chicken seasoning soup contained the same nutritional value, while in fact, the 'Kosher L'Mehadrin' seasoning soup was of poorer nutritional value. The plaintiff argued that Osem’s misconduct led, inter alia, to violation of the Israeli Consumer Protection Law 5741-1981.

 

Osem disputed the claims in the motion, and maintained that its 'Kosher' line of products is separate and distinct from the standard 'Kosher L’Mehadrin' line of seasoning soups, not only due to the level of compliance with Kashrut, but also with regard to the products' ingredients, with the 'Kosher' line of seasoning soups being produced exclusively from natural ingredients. Osem averred that the 'Kosher' and 'Kosher L'Mehadrin' lines of seasoning soups are distinguishable and their products are made from different ingredients, in a manner that would not mislead a reasonable customer.

 

Following a pre-trial, the plaintiff asked to withdraw his motion and his claim against the two respondents. Osem's demand for court costs was accepted by the court, which stated that the plaintiffs did not have legal claim against Osem and should not have filed the motion to begin with.

 

Osem Investments Ltd. was represented by Noam Ronen (Partner) and Amit Ron (Associate).

February 11th, 2018

Gornitzky represented Luzon Group in a claim regarding a lien on Dori Energy's shares.

Gornitzky represented Luzon Group in a claim in which it declared that the lien on Dori Energy's shares, a company owned by the group and a shareholder in the Dorad power plant, serving as security for an NIS 180 million bond-raising, does not necessarily prompt the right of first refusal incorporated in the Dorad Power Plant shareholders' agreement.


The District Court fully accepted the claim filed by the group, awarding the company high expenses. Following the ruling, an appeal to the Supreme Court was filed by Edelcom Ltd. (another shareholder in the Dorad power plant), but was dismissed.

 

The group was represented by Eli Cohen (Partner) and Associates Daniel Lasry and Alex Feldsher.

January 15th, 2018

Gornitzky represents the Phoenix in a motion to approve a class action filed against it.

Gornitzky represented the Phoenix Insurance Company in a motion to approve a class action filed against it, claiming that comprehensive insurance fees are being over-collected due to the fact that a vehicle's value calculated at the time of purchasing the insurance is higher than its value in practice.

The court dismissed the motion to approve the class action and accepted the arguments brought forward by the Phoenix. The company stated that according to the provisions provided by the Commissioner of Capital Markets, Insurance and Savings, it is not obligatory for insurance fees to be affected by the particular variables of a given vehicle, yet these may affect insurance compensation, subject to full disclosure before the insured. In addition, the company's arguments regarding the manner in which insurance fees and compensation are calculated were also accepted by the court.

 

The Phoenix was represented by Noam Ronen (Partner) and Nimrod Saville (Associate).

December 27th, 2017

Gornitzky represents Sahar Holdings in a claim filed against it

Gornitzky represented Sahar Holdings (of the Delek Group) in a procedure to dismiss a claim filed against it by Dizengoff Tel Aviv 176 Ltd., before the Tel Aviv District Court. The plaintiff claimed that Sahar Holdings refrained from acting with "proper diligence" to register its rights to "Beit Sahar", an asset which was sold to Dizengoff in 2010 for over NIS 25 million. Following an arbitration proceeding before Mr. Amos Gabrieli, both sides agreed to the dismissal of the claim, without Sahar Holdings having to pay Dizengoff any fees.
Sahar Holdings was represented by Olry Tenennbaum (Partner) and Alex Feldsher (Associate).

October 2nd, 2017

Gornitzky represents Zmiha Investment House Ltd. in a motion to approve a derivative lawsuit.

Gornitzky represented the public company Zmiha Investment House Ltd. in a motion to approve a derivative lawsuit against the company. The motion was filed with regard to a transaction which took place in 2013, during which Zmiha purchased the rights to a license for oil and gas exploration from Shemen Oil And Gas Resources Ltd. The drilling apparently turned up nothing, with funds seemingly going to waste. The plaintiff, a shareholder of Zmiha's parent company, GreenStone Industries Inc., claimed that the said transaction was in the interest of stakeholders, and was not approved in accordance with section 275 of the Companies Law. The plaintiff also proceeded to claim that the transaction was hasty and negligent, and that the company's board of directors approved it, thereby breaching both duty of care and duty of trust, in an attempt to serve the interest of the controlling company, Ultra Equity Investments Ltd. In light of these allegations, the plaintiff requested that directors compensate the company in the amount of the initial investment made in the Shemen transaction, approximately NIS 20 million.

 

Following the District Court's dismissal of the claim on all counts, as set forth in a comprehensive, detailed ruling, the plaintiff appealed to the Supreme Court. In its ruling of last week, the Supreme Court rejected the appeal, thereby dismissing the motion to file a derivative lawsuit against the company.

 

The company was represented by Partner Noam Ronen and Associate Noga Haruvi.

September 10th, 2017

Gornitzky represents Bank Hapoalim before the US Federal DC District Court.

Gornitzky represented Bank Hapoalim, together with Norton Rose Fulbright, in a legal proceeding in which the US Federal DC District Court dismissed a 1 billion USD claim (amended from the original 34.5 billion USD claim), mainly on the basis of political questions doctrine. The claim was filed by various Palestinian plaintiffs, backed by pro-Palestinian groups, against various corporations and individuals. It alleged various international law violations related to settlement activity and to IDF activities in the West Bank and the Gaza Strip.

 

Bank Hapoalim was represented by Pinhas Rubin (Head of the Firm), together with Associates Cobi Marcus, Nir Keidar and Assaf Harel.

August 31st, 2017

Gornitzky represents Bezeq in a motion to hold an additional court session regarding the Supreme Court's ruling on the matter of dividend distribution.

Gornitzky represented Bezeq, the Israeli Communication Corp. Ltd,. in a motion to hold an additional Supreme Court session regarding its ruling from December 2016, which dismissed an appeal over the District Court's ruling that denied motions to approve a derivative lawsuit on behalf of Bezeq, in relation to capital reduction and dividend distribution executed by Bezeq. In her decision, Supreme Court President, Justice Naor, denied the plaintiff's motion to hold an additional court session, stating that the motion does not fall within the rare cases which justify holding an additional hearing.

Bezeq was represented by Pinhas Rubin (Chairman of the Firm), Lior Porat (Managing Partner), Asaf Avtuvi (Partner) and Ehud Katzenelson (Associate).

July 26th, 2017

Gornitzky represents the Israel Football Association in a motion to approve a NIS 38.5 million derivative suit against it.

The petitioners maintain that funds which were transferred by the Football Association should be claimed via third parties.

The Football Association was represented by Kfir Yadgar (Managing Partner), Ofer Fleischer (Partner) and Lior Sharabi (Associate).

April 12th, 2017

Gornitzky represents the Phoenix in a temporary injunction halting the sale of Arena's major assets.

The Phoenix Insurance Company was granted a temporary injunction halting the sale of Arena Group's major assets.

 

Within the framework of an originating motion in the matter of the Phoenix's right of first refusal in the Star Center Mall in Ashdod, the Tel Aviv District Court halted a proceeding executed by Arena Group for the sale of Star Center Mall in Ashdod and Arena Mall in Nahariya. The two malls were offered for sale as a whole, with the intention of unlawfully bypassing the Phoenix's right to first refusal. On Passover eve, the court ruled that at this stage, no communication shall be conducted regarding the transfer of any rights to the land on which the Star Center Mall in Ashdod is located, and that the temporary injunction shall remain in effect until another decision is reached in the case.

 

The Phoenix Insurance Group was represented by Noam Ronen (Partner) and Daniel Barlev.

January 1st, 2017

Gornitzky's Dispute Resolution team successfully represented Bezeq the Israel Telecommunication Corp. Ltd. before the Supreme Court, receiving an unprecedented ruling in Corporate Law 

Gornitzky's Dispute Resolution team successfully represented Bezeq the Israel Telecommunication Corp. Ltd. before the Israeli Supreme Court, resulting in an exceptional ruling in favour of Bezeq, dismissing two appeals over the decision of the honourable Judge Kaboub at the Tel Aviv District Court which denied two motions to approve a derivative suit.
Among others, the ruling unprecedentedly asserts the absorption of the Delawarean Business Judgment Rule within the Israeli Corporate law.

 

Bezeq was represented by Pinhas Rubin (firm chairman), Lior Porat (partner), Asaf Avtuvi and Ehud Katzenelson

November 29th, 2016

Gornitzky represented Audio Pixels Holdings Ltd. and additional parties involved, in a successful dismissal of a motion to approve a derivative suit against them, in the amount of NIS 500 million

Gornitzky successfully represented Audio Pixels Holdings Ltd. (an Australian public company) as well as its Israeli subsidiary, Audio Pixels, officers of the company and additional parties involved, in the dismissal of a motion to approve a derivative suit against them, in the amount of NIS 500 million.

 

Lod District Court (the honorable Judge Dr. Borenstein) dismissed the motion to file a derivative suit against Audio Pixels, in the amount of approximately NIS 500 million, in relation to the claim of alleged technology theft, concerning unique developments in the audio field.

 

The technology to which the motion refers to is in fact a unique technology for the manufacturing of speakers, developed by Audio Pixels, based on micro electromagnetic structures (MEMS) and not on the customary classic speaker components in today's industry, which is expected to provide unprecedented performance in the field of audio. Several months ago, Audio Pixels reported a cooperation agreement for the production of chips together with the Israeli company TowerJazz. Recently, the company also proceeded to report to its investors its progress in the developmental stages, along with the unique cooperation with Bar Ilan University, in a project aimed at assisting the blind in sight analysis via the use of part of the technology it is developing.


At the beginning of 2013, Amir Baron, a software engineer, filed a request for the approval of a derivative suit against Audio Pixels Holdings Limited, its Israeli subsidiary, Audio Pixels, and several other executive officers at Audio Pixels along with other individuals involved.
Within the framework of the motion to approve a derivative suit, filed in the amount of about NIS 500 million, it was claimed that the intellectual property used by Audio Pixels belongs in fact to an Israeli Start-up company called B-4 (no longer active today, in which Baron worked together with the respondents) and that one of the respondents, who left B-4 in 2006, took the technology with him and used it, together with other respondents, in order to establish Audio Pixels, and in practice, the technology used by Audio Pixels today is B-4's intellectual property.


In a lengthy and detailed ruling, the court dismissed the motion to approve a derivative suit .
Furthermore, the court determined that taking into account that B-4 is at the end of the road and that the purpose of the suit is to serve the personal interests of the share -holders, it cannot be determined that the purpose of the suit is indeed in favor of the company. Furthermore, the court ruled that the petitioner's good-faith should be questioned.


Due to these reasons, the court decided to dismiss the motion to file a derivative suit and to impose the expenses on the petitioner.

 

The Audio Pixels group, its subsidiaries and other parties involved were represented by Eli Cohen (Partner), Or Lustgarten and Yaad Gordon.

November 9th, 2016

Gornitzky successfully represented Fattal Hotels in a motion to dismiss the objection to register a trademark, brought before the Deputy Patent Registrar.

Gornitzky successfully represented Fattal Hotels in a motion to dismiss the objection to register a trademark, brought before the Deputy Patent Registrar, as well as in the appeal against the decision to dismiss, held before the Tel Aviv District Court.


Within the framework of the objection to register the trademark, filed by a trademark owner registered in the Trademarks Database, it was claimed, among others, that Fattal's motion to register the trademark should be denied, in light of the existing concern for the mistaking of Fattal's requested trademark with that of the opposing party.


In the court ruling, issued in April 2016, the Deputy Patent Registrar ordered the full dismissal of the objection, whilst accepting Fattal's arguments with respect to lack of absence of concern over any misleading and while imposing expenses of the procedure on the opposing party.


An appeal against said court ruling, filed before the Tel Aviv District Court by the opposing party, was denied as well, following the opposing party's withdrawal of the appeal, as suggested by the Court.

 

Fattal Hotels were represented by Nimrod Saville and Karin Shani.

July 14th, 2016

Gornitzky successfully represented bank Igud by dismissing the lawsuit filed against the bank in Tel-Aviv District Court

Gornitzky successfully represented bank Igud by dismissing the lawsuit filed against the bank in Tel-Aviv District Court. The plaintiff in the lawsuit requested the court to force the bank to open him a bank account, despite the bank’s refusal. Represented by Gornitzky, bank Igud argued for the reasonability of the refusal, same as the position of Bank of Israel. This claim raised some precedential issues in Banking Law, bank-customer relations and the normative status of Bank of Israel position. The claim was dismissed with acceptance of the Bank’s argument by the District Court.

 

Bank Igud was represented by Harel Shaham (partner),Nimrod Saville and Shiran Knafo

June 20th, 2016

Gornitzky represents Benefit (a part of the Phoenix group) in a successful dismissal of a labour law class action suit

Gornitzky represented Benefit  (a part of the Phoenix group) in a successful dismissal of a labour law class action suit with respect to allegations regarding negligent advice given by Benefit to retired employees of Discount Bank.

The court dismissed the claim against Benefit, giving a summary judgment accepting all of Benefit's claims regarding, inter alia, the lack of subject matter jurisdiction, the prima-facie evidence that there was no negligent advise, as well as the argument that the claim was barred under the statute of limitations.

 

Benefit was represented by Noam Ronen (Partner) and Nimrod Saville 

June 8th, 2016

Gornitzky successfully represented the directors of  Zmicha Investment House Ltd. In the dismissal of a motion to approve a derivative suit, targeting the company's unsuccessful investment.

Gornitzky successfully represented the directors of Zmicha Investment House Ltd., a TASE publicly traded company, in a motion to approve a derivative suit against the directors. The motion addressed allegations that the respondents (the directors) had unlawfully approved Zmicha's investment in Shemen Oil and Gas Resources Inc., in which Zmicha's controlling stockholder allegedly had a significant business interest. The motion also contended that the directors breached their duties of care and loyalty by approving this transaction in a negligent manner.

 

The Economic Department in the Tel-Aviv District Court (Honorable Judge Ruth Ronen), in a profound and well established decision, rejected the motion, ruling that Zmicha's investment in Shemen was neither an interested transaction nor a negligent one. The court ruling presents a comprehensive (and somewhat pioneering) analysis of the fundamental corporate governance issues that arise from the case, after which the motion was dismissed and the directors were awarded with legal fees and expenses.

 

The directors of Zmicha Investment House Ltd. were represented by Noam Ronen (Partner) and Noga Haruvi.

March 15th, 2016

Adv. Yaron Elhawi (partner), SDS liquidator, filed a motion to order the controlling shareholder and board members of SDS to bear the Company's debt in the sum of 72 Million NIS 

The liquidators of SDS, Adv. Yaron Elhawi (partner) and Amir Palmer, represented by Adv. Harel Shaham (partner) and Shani Weiss from Gornitzky & Co., filed a motion to order the controlling shareholder and board members of SDS to bear the Company’s debts to its creditors in the amount of over NIS 72 million. Such debt, arose , among other things, due to the distribution of a dividend in the amount of NIS 27 million, that was made to serve the urgent liquidity needs of the controlling shareholder, in violation of the duty of care of the Company’s directors and despite the existence of reasonable doubt as to the Company's solvency, and due to  amateurish and adventurous investments of tens of millions of shekels in product development and purchasing activities devoid of even elementary business logic and lacking even the most basic inquiries of the Company’s directors,who failed to take action and demonstrated complete passivity to the Company’s cash flow limitations. 

January 14th, 2016

Gornitzky represents Nitsba Group, in the tender for the purchase of the company's assets for approx. NIS 280 million

Gornitzky successfully represented Nitsba Holdings 1995 Ltd., the former controlling shareholder of the Tel Aviv Central Bus Station and its largest creditor (NIS 280 million), in the insolvency proceedings of the Tel Aviv Central Bus Station. As part of the insolvency proceedings, it has been argued by certain trustees that the debt to Nitsba should be subordinated), due in part to the fact that the company was operating under undercapitalization. This is a highly complicated and new legal issue and we have submitted an appeal to the District Court with regard to the decision of the Board of Trustees. Our firm represented Nitsba in a tender published by the trustees for the purchase of the company's assets, in which our client won and acquired the assets for a total of NIS 320 million. Nitsba is currently operating in order to form a creditors' arrangement for the central station.

 

See full story (Hebrew)

 

Nitsba Holdings were represented by Pinhas Rubin (Firm & Practice Chairman) Yaron Elhawi (Partner) and Amnon Biss

 

December 1st, 2015

Gornitzky is representing the founder of "Eden Teva Market", Mr. Guy Provisor, shareholder of 49% of Eden Teva Market, in a lawsuit against Alon Blue Square, Mega Retail and its senior officers (past and present) for NIS 78 Million.

 

Gornitzky is representing the founder of "Eden Teva Market", Mr. Guy Provisor, shareholder of 49% of Eden Teva Market, in a lawsuit against Alon Blue Square, Mega Retail and its senior officers (past and present) for NIS 78 Million, on the ground of misconduct that caused Provisor`s Holdings to be erased altogether.

Eden Teva Market is Israel’s largest chain of organic-food supermarkets.

Read the full story (hebrew)

Mr. Guy Provisor is represented by Ofer Tzur (Partner), Kfir Yadgar (Partner) and Maayan Melamed.

August 9th, 2015

Gornitzky represented Delek Real Estate Ltd. in a successful hearing process in which it was decided not to press charges against the Company

Following a successful preliminary hearing, in which Advocates Pinhas Runin (Partner), Erez Harel (Partner) and Hila Shimon represented Delek Real Estate Ltd., the Tel Aviv District prosecution decided not to press charges against the Company (and against Ilik Rojansky – former CEO) and resolve the case in a discontinuance of the proceeding settlement (in which the company will only bear a financial sanction).

July 20th, 2015

Gornitzky represented Amot Investment in Mega Retail's Credior Arrangement

Gornitzky represented Amot Investments (TASE: AMOT) in Mega Retail's Plan of Recovery and Creditors Arrangement.

 

Within the framework of the Arrangement, various creditors (among them Amot) had reached an Arrangement to restructure Mega's debts, which accumulated to USD 700 million. The Arrangement was approved by the Central District Court pursuant to section 350 of the Companies Law.

 

Amot is the investment arm in Israel of Alony-Hetz Properties & Investments Ltd., and is a leader in the management, leasing, maintenance, and development of income generating properties in Israel.

 

Amot was represented by Mr. Ofer Tzur (Partner), Ms. Orly Tenennbaum (Partner) and Mr. Daniel Lasry.

 

 

July 20th, 2015

Gornitzky represents Osem (a part of the Nestle group) in the successful dismissal of a motion to approve a consumer claim as a class action

Gornitzky represented Osem Investments Ltd. (TASE: OSEM, a part of the Nestle group) in the successful dismissal of a motion to approve a consumer claim as a class action with respect to an alleged violation of the Food Labeling Regulations (36 - Chocolate and 1145 - labeling prepacked food) and an alleged misleading of its consumers regarding the labeling of its Fitness cereals products ("Fitness White chocolate", "Fitness chocolate" and "Fitness Dark chocolate").

Haifa District Court dismissed the motion, and awarded Osem with unusual legal fees and expenses.    

 

Osem Investments Ltd. was represented by Noam Ronen (Partner) and Tom Alkalay

 

For more information on our class actions practice, visit here.

April 27th, 2015

Gornitzky represented the TASE in the successful dismissal of a NIS 648 million motion to approve a class action filed against the stock exchange. 

Gornitzky represented the Tel Aviv Stock Exchange in the successful dismissal of a NIS 648 million motion to approve a class action, filed against the stock exchange in relation to the fees charged by it, and in connection with the articles of association and directions published by the Stock Exchange. Honorable Judge Haled Kabub accepted the arguments raised by Gornitzky (on behalf of the TASE), and dismissed the motion in limine, for reasons of lack of rivalry and lack of authority.

 

The Tel Aviv Stock Exchange was represented by Pinhas Rubin (Firm Chairman), Harel Shaham (Partner), Noga Haruvi and Amnon Biss.

February 1st, 2015

Gornitzky represented Israel Corporation in the successful interim decision in a derivative suit against the company, whereby the court accepted the motion not to reveal attorney-client privileged information discussed in board meetings.

Gornitzky represented Israel Corporation in the successful interim decision in a derivative suit against the company, whereby the Economic Division of the Tel Aviv District Court accepted the motion not to reveal attorney-client privileged information discussed in board meetings. The derivative suit is in relation to the restructuring of the company's subsidiary, Zim Integrated Shipping Services Ltd.

 

Israel Corporation is represented by Pinhas Rubin (Firm Chairman), Noam Ronen (Partner) and Noga Haruvi.

 

For more information on our class actions practice, visit here.

February 2nd, 2014

Gornitzky & Co. represented Fortissimo Capital Fund in its NIS 192 million acquisition of Eshbel Technologies Ltd., after receiving court approval for the transaction.

Gornitzky & Co. represented Fortissimo Capital Fund in its NIS 192 million acquisition of Eshbel Technologies Ltd. The transaction was conducted through the Central Region District Court in the context of insolvency proceedings with respect to Eshbel.

 

Eshbel is the developer of Priority, proprietary ERP software for small and medium businesses worldwide.

 

Fortissimo Capital Fund was represented by Chaim Friedland (Partner, Corporate/M&A), Maya Sabari (Sadeh) (Partner, Litigation), Idan Baki (Partner, Finance), Avner Finkelshtein (Partner, Antitrust) and Ariel Davis.

August 13th, 2013

Gornitzky represented U. Dori in the company's NIS 50 million suit against the EPC contractor of the Dorad power station, Wood Group and its subsidiary. 

Gornitzky represented U. Dori in the company's NIS 50 million suit against the EPC contractor of the Dorad power station, Wood Group and its subsidiary. The Dorad power station is a combined cycle power station based on natural gas. It is the largest independent power station in the country and will generate up to a total of 840 megawatts of electricity, which will be sold to the IEC and to large industrial/institutional customers through the IEC's distribution grid.

 

U. Dori Engineering Works Corp. Ltd. was represented by Eli Cohen (Partner) and Or Lustgarten.

March 18th, 2013

Gornitzky represented Partner Communications (Orange) in the successful dismissal of a derivative suit petition filed against the company's directors, which challenged the distribution of dividends and obtainment of loans. 

Gornitzky represented Partner Communications (commercially branded as "Orange") in the successful dismissal of a derivative suit petition filed against the company's directors, which challenged the distribution of dividends by Partner and loans obtained during the same period. The claim made by Gornitzky & Co., that the petition for the approval of the derivative suit was based upon economic and legal errors and should therefore be dismissed, was accepted by Judge Khaled Kabub of the Tel Aviv District Court.

 

Partner Communications (Orange) was represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Ms. Sagit Ohana-Livne (Partner).

 

October 31st, 2012

Gornitzky's lawyers successfully argued, on behalf of Ben Gurion University in their appeal before a subcommittee of the Council for Higher Education, that the committee not prohibit students from enrolling in the political science department next year and thereby, in effect, close it down.

Gornitzky's lawyers successfully argued, on behalf of Ben Gurion University in their appeal before the subcommittee of the Council for Higher Education, that the committee not prohibit students from enrolling in the political science department next year and thereby, in effect, close it down.

 

The subcommittee had come to their initial decision after the department had been criticized for being politically imbalanced and lacking certain professional standards. Gornitzky's lawyers claimed before the subcommittee that their recommendation to close the department was illegal and not within the scope of their authority.

 

Ben Gurion University was represented by Mr. Moriel Matalon (Managing Partner) and Mr. Ofer Fleischer.  

September 11th, 2012

Gornitzky is representing leading Israeli student organizations, on a pro bono basis, in a petition to the High Court of Justice against an amendment to the National Insurance law.

Gornitzky is representing leading Israeli student organizations, on a pro bono basis, in a petition to the High Court of Justice against an amendment to the National Insurance law. Under the amendment, interns who have completed their internship, and are studying for the Israel Bar Association or Israel Board of Accountancy exam, are denied the right to unemployment benefits during the period of their studies for the exam.

 

The petition, submitted today (September 11th) is based upon the amendment's infringement of the interns' rights to equality on two accounts: first, with other unemployed persons who are not registered for certification exams, and second, with unemployed persons who are studying for their certification exams in other areas, such as investment advisers, physiotherapists, and others.

 

The petition is being led by Mr. Michael Ayalon and Mr. Imri Kozak.

June 19th, 2012

Gornitzky & Co. represented Dr. Joshua Rosensweig in a lawsuit in which Adv. Avi Gera claimed that Dr. Rosensweig allegedly prevented him from his share in their dissolved joint firm's alleged reputation.

Gornitzky & Co. represented Adv. Dr. Joshua Rosensweig (a former senior partner at Gornitzky and one of Israel's foremost businessmen) before the Israeli Supreme Court in a lawsuit in which Adv. Avi Gera claimed that Dr. Rosensweig allegedly prevented Adv. Gera from his share in their dissolved joint firm's alleged reputation. Adv. Gera estimated his share of the firm's reputation at NIS 9 million when filing the lawsuit in 2004.

 

The Supreme Court ruled in favor of Dr. Rosensweig, and affirmed the January 2011 District Court decision which stated that only in rare cases does a law firm have a reputation separate from the identity of its partners. The District Court referred specifically to Gornitzky & Co. as an example of a highly respected firm with a reputation independent from its partners.

 

The team handling the representation included Mr. Pinhas Rubin (Firm Chairman), Mr. Noam Ronen (Partner) and Mr. Ofer Fleischer.

April 23rd, 2012

The High Court of Justice accepted YES' motion and issued a conditional order against the validity of an amendment to the Communications Law.

The High Court of Justice accepted YES' motion and issued a conditional order (order nisi) against the validity of an amendment to the Communications Law, which exempts certain channels, including Channels 9 (Russian), 24 (Israeli music) and 30 (Arabic), from paying transfer fees to the satellite company for their broadcast. The legislative amendment had been accepted in 2010 and essentially absolved the said channels from paying significant fees to YES.

 

YES was represented by Mr. Lior Porat (Partner) and Mr. Asaf Avtuvi.

March 26th, 2012

The courts ruled in support of Ofroni Holdings, winner of a tender offering for the purchase of land in Rishon L'Tzion.

After winning a tender offer by a court-appointed receiver for the purchase of land "as is" in Rishon L'Tzion, Ofroni Holdings discovered several previously undisclosed disputes between the owners and the Rishon L'Tzion planning authorities. In a motion to void the tender, the Rishon L'Tzion Magistrate's Court gave an unprecedented ruling in support of arguments made by Adv. Noam Ronen of Gornitzky on Ofroni's behalf, placing the burden of active disclosure of crucial information on the sellers.

 

Ofroni Holdings was represented by Mr. Noam Ronen (Partner).

September 20th, 2011

Gornitzky & Co. represented Bezeq Ltd. in obtaining the court's approval for a NIS 3 billion dividend, by way of capital reduction and also in recent court deliberations regarding the dividend

In March 2011, Bezeq Ltd. was authorized by the Financial Department of the District Court in Tel-Aviv (the Honorable Judge Danya Kareth Meyer) to distribute a NIS 3 billion dividend by way of capital reduction, as was recommended by its board of directors and approved by its general assembly. The approved dividend is to be paid in six payments, over a period of three years. In September 2011, the District Court ruled, inter alia, that a request to object to the dividend filed by two of Bezeq Ltd.'s bond holders a few months following the court's approval, became redundant.


Bezeq The Israel Telecommunications Co. Ltd. which is Israel's largest telecom operator, was represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Mr. Asaf Avtuvi.

May 31st, 2011

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin, said that judges are expected to try and facilitate a compromise between the parties, but should not rebuke parties who refuse to compromise

Gornitzky & Co.'s Chairman, Mr. Pinhas Rubin, spoke in a panel held in the Israel Bar Association 2011 Annual Conference in Eilat regarding the judge’s role in mediating between the parties in a legal dispute, or helping them in reaching a compromise. The conference included several legal panels which dealt with a broad range of current legal issues.

 

"When I walk into the courtroom I expect the judges to try and comprise between the parties, as long as they are familiar with all the details of the case, and I am always disappointed when the judge calls for the first witness," said Mr. Pinhas Rubin. Mr. Rubin stated his belief that "the opposing party, provided he does not live by the sword and by the sword alone, also expects the judge to try and find a solution to the dispute. It does not bother me when the judge asks me to compromise, even when I am sure that my claims are just. In fact, a good compromise can be better than a good decision”.

 

However, Mr. Rubin warned that judges should beware of forcing the parties to compromise. “A forced compromise is not a compromise at all. I find it unacceptable when a judge rebukes a party that refuses to compromise, it causes antagonism."

February 15th, 2018

Gornitzky represented the Phoenix Insurance Company Ltd. in a motion to approve a class action against it. 

Gornitzky represented the Phoenix Insurance Company Ltd. in a motion to approve a class action against it, in which it was claimed that by allowing the purchase of travel insurance according to the number of full travel days (from midnight to midnight) and not according to the number of days the insured actually spent abroad, the Phoenix breached the provisions of the Insurance Contract Law and the Standard Contracts Law, while selling insurance policies without risk. Following a preliminary hearing in which the judge addressed the difficulties posed by such a motion, the plaintiffs withdrew the action without an order for expenses.

 

The company was represented by Partner Noam Ronen and Associate Daniel Barlev.

January 22nd, 2018

Gornitzky represents Queen of Sheba Eilat in a NIS 33 million claim. 

Gornitzky represented the Queen of Sheba Eilat Hotel in a claim filed against the Eilat Foreshore Development Company, before the Be'er Sheva District Court, in the amount of NIS 33 million. The claim revolves around the matter of enforcing an agreement signed by the two sides, in which the company took it upon itself to develop a beachfront by the hotel's façade. In addition, the plaintiff requested that the court order the company to compensate the hotel for extreme violations and damages caused due to breach of contract.


The hotel was represented by Orly Tenennbaum (Partner) and Lior Sharabi (Associate).

January 7th, 2018

Gornitzky represents Kaldash Construction Ltd. in a claim filed against it in the Holyland affair.

Gornitzky represented Kaldash Construction Ltd. in a claim filed against it in the Holyland affair. The matter originated in 2013, upon the decision of Jerusalem's Local Planning and Building Committee to file a claim against the entrepreneurs of the Holyland project.

 

The Municipality's main argument included the fact that based on testimonies given in the criminal case of the late state witness, Mr. Shmuel Dachner, the Holyland entrepreneurs allegedly conspired to deceive the Municipality and mislead it within the framework of the negotiations to sign an exclusive land betterment tax agreement.

 

The court fully accepted Kaldash Construction's arguments and ruled that there was no conspiracy whatsoever, nor was anything concealed from the Municipality. In his ruling, the honorable Judge Winograd also dismissed the Local Committee's claim in the amount of NIS 130 million against Kaldash Construction, instead ordereding the Committee to pay expenses in an overall amount of NIS 1.4 million.

 

The company was represented by Orly Tenennbaum (Partner) and Daniel Lasry (Associate).

November 2nd, 2017

Gornitzky represents May A.B. Nadlan Ltd. and additional companies from Migdal Group in legal proceedings against the Israel Electric Corporation (IEC).

Gornitzky represented May A.B. Nadlan Ltd. and additional companies from Migdal Group in legal proceedings against the Israel Electric Corporation (IEC), before the Central District Court, in a motion to grant provisional relief, along with a financial claim worth millions of NIS.

 

Within the framework of the proceedings, the Court was asked to order the IEC to connect electricity to an office building, owned by the plaintiffs, and to issue a mandatory injunction against the IEC, obligating it to compensate the plaintiffs for financial damage due to the non-connection of electricity to the building and the IEC's defaults.

 

The companies were represented by Orly Tenennbaum (Partner) and Nimrod Saville (Associate).

September 12th, 2017

Gornitzky represented Bank Hapoalim in a motion to approve a class action filed against it.

Gornitzky represented Bank Hapoalim in a motion to approve a class action filed against the Bank and its officers, in which it was argued that the bank refrained from including in its financial statements, the fact that provisions were made, pertaining to the investigation being conducted against the Bank in the United States. The motion allegedly claims that this is in fact material information which the Bank was required to disclose, in order not to mislead investors who purchased the Bank's shares.

 

Judge Ruth Ronen dismissed the motion in her ruling last week.

 

Bank Hapoalim was represented by Pinhas Rubin (Chairman of the Firm), Yaron Elhawi (Partner) and Shirin Gabbay-Metzeger (Associate).

September 5th, 2017

Gornitzky successfully represents Luzon Group in a claim regarding Dorad Power Plant shareholders.

Gornitzky represented Luzon Group in a claim in which the group declared that the lien of shares of Dori Energy (a shareholder in the Dorad power plant),serving as a security for an NIS 1.8 million bond-raising, does not necessarily prompt the right of first refusal incorporated in the Dorad Power Plant shareholders' agreement.


At the end of the proceeding, a meticulous ruling was issued, accepting the claim in full and ordering high expenses to be paid to the company. The ruling dealt with fundamental, complex commercial and corporate issues and the manner in which they are to be applied in the area of financial and contractual conduct of public corporations.


The company was represented by Eli Cohen (Partner) and Associates Daniel Lasry and Alex Feldsher.

August 20th, 2017

Gornitzky represents the controlling shareholders of Platforma Marketing Communication Ltd.

Gornitzky represented the controlling shareholders of Platforma Marketing Communication Ltd. in a claim which was filed against them, for alleged minority oppression. At the end of the proceeding, which lasted for six years, the claim was fully dismissed. Unlike many oppression claims, the Court did not see fit to order a "separation of forces" between the shareholders in the company, despite the apparent crisis of confidence amongst the company's shareholders and despite the fact that the controversy led to additional legal proceedings. Moreover, dividends from the company's treasury were not distributed and a principle disagreement erupted over the identity of the Dircetor soon to be appointed. The Court remained undeterred by the events and dismissed the claim.

 

The company was represented by Kfir Yadgar (Managing Partner) and Associates Ehud Katzenelson and Inbal Ronel.

 

May 5th, 2017

Gornitzky represents Alcobra Ltd. in blocking an attempted hostile takeover.

A private investment fund, holding a certain amount of the company's shares, called for the immediate assembly of an extraordinary general meeting of shareholders, in order to remove the existing Directors and replace them with its own. Following Alcobra's refusal, based on legal advice provided by our firm, the investment fund chose to unilaterally summon an extraordinary general meeting during the month of May. Following our appeal to the Tel Aviv District Court for Economic Affairs, an injunction was issued, prohibiting the investment fund from sending out summons and proxies to the company's shareholders in Israel and abroad. At the end of the day, the sides reached an agreement, according to which it was agreed that the extraordinary general meeting of shareholders summoned by the investment fund shall be cancelled and the company shall convene its annual general meeting on July 20, 2017.

Alcobra Ltd. was represented by Kfir Yadgar (Managing Partner), Chaim Friedland (Partner), Ari Fried (Partner), Ofer Fleischer (Partner), together with Associates Shiran Knafo and Gil Palkovic

April 3rd, 2017

Gornitzky's litigation team represents a founder of Ducool in a derivative action of USD 20 million against controlling shareholders.

Gornitzky's litigation team, led by Eli Cohen (Partner), represents one of the founders of Ducool Ltd., in a motion to approve a derivative action in the aggregate amount of USD 20 million against the controlling shareholders of the company.

Gornitzky's litigation team represents one of the founders of Ducool Ltd., a manufacturer of advanced air cooling systems, exported to the international market, in a motion to approve a derivative action in the aggregate amount of USD 20 million against the controlling shareholder of the company, the American private equity firm, AMatlin Patterson Global Advisors LLC, and its directors.

Within the framework of these proceedings, the fact that the respondents are located in the United States had to be taken into account in terms of whether or not the derivative action could indeed be filed, since it involved another jurisdiction. According to the Court's decision, a shareholder in an Israeli company cannot be prevented from filing a motion to approve a derivative action.

The founders of the company were represented by Eli Cohen (Partner) and Yaad Gordon (Associate).

December 5th, 2016

Gornitzky represents Golan Telecom in its appeal to the Antirust Court regarding the Antirust Commissioner's decision to oppose the merger transaction between Golan Telecom and Cellcom Israel

Gornitzky represents Golan Telecom in its appeal to the Antirust Court regarding the  Antirust Commissioner's decision to oppose the merger transaction between Golan Telecom and Cellcom Israel.


Read full story in Globes (Hebrew)

 

Golan Telecom is represented by Avner Finkelshtein (partner) and Noa Schweitzer Amar

November 29th, 2016

Gornitzky successfully represented an acquisition group in rejecting a motion to disqualify an arbitrator, in addition to a request for permission to appeal before the Supreme Court

Gornitzky successfully represented an acquisition group in rejecting a motion to disqualify an arbitrator, before the honorable Judge A. Vago at the District Court, in addition to a request for permission to appeal before the Supreme Court, held before the honorable Judge Danziger at the Supreme Court.

 

Within the framework of the motion to disqualify the arbitrator and the permission to appeal, it was claimed, among others, that the arbitrator should be disqualified based on the fact that the representative of the acquisition group, Adv. Eli Cohen, was appointed as the IBA's deputy Chairman of the litigation committee, one in which the arbitrator resides as Chairman. Furthermore, said arbitrator represents a client in a separate proceeding, in which Mr. Cohen represents the opposing party.

 

In his court ruling issued in September 2016, the honorable Judge Vago ordered to dismiss the motion, whilst accepting the claim made by the acquisition group, according to which there is lack of real likelihood of bias, on the arbitrator's part, in his decision. Expenses for the procedure were imposed on the petitioner.

 

The request for permission to appeal filed by the petitioner was also rejected, while the claims made by the acquisition group were accepted and expenses for the procedure were imposed on the petitioner. In his court ruling, the honorable Judge Danziger, determined, among others, that the so-called "connection" between advocate Cohen and the arbitrator, allegedly originates from their professional acquaintance. Furthermore, any claim according to which there is real likelihood of bias, on the arbitrator's part, is far-fetched. It was also determined that the fact that the arbitrator and advocate Cohen represent clients on opposite sides in a separate proceeding, does not necessarily raise concern about a conflict of interest.

 

The acquisition group was represented by Eli Cohen (partner) and Natalie Dragot

July 20th, 2016

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed ranking guide, Coface Bdi, top ranked our firm in 14 Tier 1 categories

Yet another successful year and recognition of our outstanding abilities! This year, as in previous years, the esteemed ranking guide, Coface Bdi, top ranked our firm in 14 Tier 1 categories. The leading rankings include Banking & Finance, Tax, Litigation & Dispute Resolution, Mergers & Acquisitions, Capital Markets & Securities, Infrastructure & Project Finance, Energy & Natural Resources, Corporate, Real Estate & Construction, Real Estate taxation, Class Actions & Derivative Suits, Telecoms & Media, Restructuring & Insolvency, Trusts, Estates & Wealth Management.

June 29th, 2016

Gornitzky represents the Tel Aviv Stock Exchange in a successful dismissal of a NIS 200  million class action in the matter of "Mannkind" 

Gornitzky represented the Tel Aviv Stock Exchange in a successful dismissal of a NIS 200 million high-profile class action suit with respect to the "Mannkind" stock - a bio-med company that registered its shares in the Israeli Stock Exchange.

 

See full story in Calcalist (Hebrew)


The Tel Aviv Stock Exchange was represented by Pinhas Rubin (Firm Chairman), Harel Shaham (Partner) and Lior Sharabi.

June 9th, 2016

Gornitzky represents I.D.B. Development in a petition for dissolution and a motion to appoint a temporary liquidator

Gornitzky represented I.D.B. Development in a petition for dissolution and a motion to appoint a temporary liquidator filed on June 1st, 2016, on its behalf, by the Series 9 bondholders' trustee. Following an urgent court session held on June 7, 2016 before the honorable Judge Brenner, and upon the court's recommendation, the trustee withdrew the motion to appoint a temporary liquidator. The dissolution will be discussed in a court session set foot September 2016.  

 

 See related article in Globes and Calcalist

 

I.D.B. Development Ltd. Is represented by Pinhas Rubin (Firm Chairman), Ofer Tzur (Head of Litigation), Kfir Yadgar (Partner), Yair Shiloni (Partner), Shirin Gabbay-Metzger and Shiri Nass Magid

March 31st, 2016

Gornitzky represents the founders of DuCool Ltd. in a dispute amongst company share-holders against the controlling shareholder in the company 

Gornitzky represented the founders of DuCool Ltd. (a company that specializes in the manufacturing of advanced air-conditioning systems, which are exported to international markets including the U.S., China and India), in a dispute amongst company share-holders against the controlling shareholder in the company, the American hedge fund, Matlin Patterson Global Advisors, LLC. its Directors.

Within the framework of these proceedings, two motions were filed by the founders of the company for the approval of two derivative actions at the District Court in Tel Aviv (Financial Department), as well as three actions at the Regional Labor Court.

In March 2016, Haifa District Court acceded the motion to suspend proceedings and appoint a trustee, as requested by the company (ex parte), a motion which was filed, according to the founders, for the purpose of dismissing proceedings which were initiated by the founders, represented by Gornitzky & Co., against the American Fund.

In an expedited process, within a number of days, the office team strived to suspend proceedings. In an unconventional ruling by the Haifa District Court, the court ordered the cancellation of the injunction to suspend proceedings, together with the annulment of a trustee, and respectively the ongoing proceedings conducted by the group of founder were restored.

 

The Company's founders were represented by Adv. Eli Cohen (Partner), Adv. Michael Ayalon (Partner), Adv. Cobi Marcus and Adv. Yaad Gordon.

March 2nd, 2016

Gornitzky represents Osem Investments Ltd. (a part of the Nestle group) in a successful dismissal of a consumer class action suit with respect to alleged mislabeling of food products.

Gornitzky represented Osem Investments Ltd. (TASE: OSEM, a part of the Nestle group) in a successful dismissal of a consumer class action suit with respect to alleged mislabeling of food products and alleged misleading of consumers in certain provisions of regulation instruction no.1145 (labeling of packaged food), with regard to marking products using outer wrapping that hid part of the list of ingredients.

 

Osem Investments Ltd. was represented by Adv. Noam Ronen (Partner) and Adv. Nimrod Saville

December 23rd, 2015

Gornitzky successfully represented A.S. Uri investments & assets (2000) Ltd., a subsidiary of Vitania Ltd., in a NIS 7 Million claim against the company filed by Adv. Yehuda Zehavi, which was revoked by the Tel Aviv District Court.

Gornitzky successfully represented A.S. Uri investments & assets (2000) Ltd., a subsidiary of Vitania Ltd., in a NIS 7 Million claim against the company and Gad Proper, a Vitania Ltd. Shareholder, filed by Adv. Yehuda Zehavi. The claim of the plaintiff, Adv. Zahavi, is that Vitania made a verbal commitment to him that he would be the lawyer handling the enforcement of Vitania's rights in the assisted accommodation project, “Until 120”, and “Vitania Tower”, office building in Ramat Hachayal, Tel-Aviv. Vitania Ltd. denied such commitment was ever made to Adv. Zehavi and claimed he was paid fully for all legal services provided with connection to the Project. . The Tel Aviv District Court rejected the claim and questioned the absence of a written fee agreement, while stressing the duty of lawyers to draft written agreements at all times. 

 

 

A.S. Uri investments & assets (2000) Ltd. was represented by Eli Cohen (partner), Daniel Lasry and Alex Feldsher.

 

September 10th, 2015

Gornitzky represents China Railway tunneling Group (CRTG) and its partner Solel Boneh, in a petition against their successful win of a NIS 2.9 Billion tender for the Tel Aviv Light Rail project

Gornitzky represented CRTG, a subsidiary of China Railway Engineering Group Ltd., the largest Chinese company specializing in underground works,  and its partner Solel Boneh in a successful dismissal of a petition filed to the Tel-Aviv District Court and to the Tender Committee in connection with their win of a NIS 2.9 Billion tunneling tender published as part of the Tel Aviv Metropolitan Area Mass-Transit System.

July 20th, 2015

Gornitzky represented Nes-Pan in Mega Retail Creditor Arrangement

 

Gornitzky represented Nes-Pan (a subsidiary of Amot Investments) in a stay of proceedings requested by Eden Teva Market (a subsidiary of Mega Retail). Nes-Pan is one of Eden Teva Markets' Creditors, leasing a property to the company in Be'er Sheba.

 

Nes-Pan was represented by Ms. Orly Tenennbaum (Partner) and Mr. Daniel Lasry.

 

 

July 20th, 2015

Gornitzky is representing minority shareholders in Eden Teva Market lawsuit against Alon

Gornitzky is representing minority shareholders in “Eden Teva Market” (including Mr. Guy Provisor, founder and former C.E.O) in a lawsuit against Alon Blue Square (NYSE: BSI & TASE: BSI) and its subsidiary Mega Retail. Minority shareholders attribute responsibility for Eden Teva Market’s significant losses (and current suspension of proceedings) to the misconduct of controlling shareholder (Mega) and its parent company (and former controlling shareholder of Eden Teva Market) – Alon, and seek to compel Alon and Mega to purchase minority shareholders’ shares in Eden Teva Market for corresponding value of 77,000,000 NIS.

 

Eden Teva Market is Israel’s largest chain of organic-food supermarkets.

 

Minority shareholders and Mr. Provisor are represented by Ofer Tzur (Partner), Kfir Yadgar (Partner) and Maayan Melamed.

 

May 26th, 2015

Gornitzky is representing the Agrexco liquidators in a lawsuit against the State of Israel, which was recently approved to go to court. 

Gornitzky is representing the Agrexco liquidators in a lawsuit against the State of Israel, which was recently approved to go to court. In the lawsuit, the liquidators attribute responsibility for Agrexco's near NIS 500 million debt and subsequent bankruptcy collapse to the behavior of the State and affiliated entities, which controlled Agrexco, for their improper use of the company to promote national and other agendas that were contrary to the company's best business interest and created financial instability.

 

The liquidators, led by Dr. Shlomo Nass, are represented by Pinhas Rubin (Firm Chairman), Yaron Elhawi (Partner), Ofer Fleischer (Partner) and Shani Weiss.

 

For related news click here and here

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February 17th, 2015

Gornitzky represented Mekorot Israel National Water Co. in the successful dismissal of a NIS 5.4 million lawsuit filed against the company in relation to reimbursement of money paid in the 1960’s and 1970's for water supply.  

Gornitzky & Co. represented Mekorot Israel National Water Co. in the successful dismissal of a NIS 5.4 million lawsuit filed against the company in relation to reimbursement of money paid in the 1960’s and 1970's  for water supply (“water rights”). The res judicata arguments made by Gornitzky, following a prior settlement in a class action suit between Mekorot’s shareholders (including the claimant), Mekorot and the State of Israel., were accepted by Justice Dr. Dafna Avnieli of the Tel Aviv District Court.

 

Mekorot Israel National Water Co. was represented by Timor Belan (Partner) and Nir Keidar, together with Nehushtan, Zafran, Scharf, Jaffe & Co.

 

For more information on our litigation practice, visit here.

December 23rd, 2014

Gornitzky represents Osem (of the Nestle group) in the successful and precedential dismissal of a consumer class action suit after a motion to allow the class action was previously granted.

Gornitzky represented Osem Investments Ltd. (TASE: OSEM, a part of the Nestle group) in the rare and successful dismissal of a consumer class action suit with respect to alleged mislabeling of cereal boxes against the company and Unilever,  after a motion to allow the class action was previously granted by the same judge.

 

Osem Investments Ltd. was represented by Noam Ronen (Partner) and Nimrod Saville.

 

For more information on our class actions practice, visit here.

September 9th, 2013

Gornitzky represented a former CEO in the rejection of NIS 6.8 million of corporate embezzlement charges filed by the company he had headed, and in filing a counter claim against the company.

Gornitzky represented a former CEO in the rejection of NIS 6.8 million of corporate embezzlement charges filed by the company he had headed, and in filing a countersuit against the company.

 

Regional Labor Court Justice Ilan Itah decreed that the payments received by the CEO are neither the fruits of embezzlement nor an unusual scheme, as wrongfully argued by the employer. The judge subsequently rejected the majority of the suit, while partially accepting the counter claim made by the CEO following which he ruled that the parties must settle accounts for certain amounts owed to one another.

 

The CEO was represented by Ofer Tzur (Partner, Head of Litigation) and Harel Shaham (Partner).

July 2nd, 2013

Gornitzky represented Mr. Ziel Feldman in the Tel Aviv District Court's dismissal of a request by Bank Discount to declare Feldman bankrupt.

Gornitzky represented American real estate mogul, Mr. Ziel Feldman, in the Tel Aviv District Court's dismissal of a request by Bank Discount to declare Feldman bankrupt.

 

Honorable Judge Eitan Orenstein rejected and dismissed Bank Discount's request to declare Feldman bankrupt following arguments made by Gornitzky regarding the factual complexity of the dispute, and, inter alia, the disagreement over the alleged NIS 138 million debt and the questionable legality of the interest rates applied to the loan by Bank Discount.

 

Mr. Ziel Feldman was represented by Ofer Tzur (Partner, Head of Litigation) and Harel Shaham (Partner).

 

 

December 2nd, 2012

Dr. Zvi Gabbay, a partner at Gornitzky and former Head of Enforcement at the Israel Securities Authority, believes that two recent decisions rendered by an Administrative Enforcement Tribunal are indicative of the ISA's attempt to utilize the administrative enforcement procedure in order to broaden the scope of its authority.

According to the Israeli newspaper, Calcalist, Dr. Zvi Gabbay, a partner at Gornitzky and former Head of Enforcement at the Israel Securities Authority, believes that two recent decisions rendered by an Administrative Enforcement Tribunal are indicative of the ISA's attempt to utilize the administrative enforcement procedure in order to broaden the scope and type of entities that are under its supervision, such as the non-public companies Tnuva and Apax and day trader Rafael Dahan.

 

"I believe that the administrative enforcement proceeding is good and appropriate, and yet it seems that the ISA utilizes it to expand the scope of its authority, and that is not what it was intended for," said Dr. Zvi Gabay. "Of the only two decisions that the Administrative Enforcement Committee publicized thus far, you can see a clear trend towards organizations and people who are not supervised by the ISA.  It is inappropriate to take advantage of the process for expanding control."

 

Dr. Gabbay was interviewed in response to the Administrative Enforcement Committee decision rendered in the matter of Refael Dahan, an independent investor, whose daily investment activities were interpreted by the ISA as deliberate influence on certain share prices.

September 27th, 2012

Gornitzky & Co. represented Yitzhak Tshuva in the successful negotiations for securing a debt settlement between Delek Real Estate Ltd. and its bondholders.

Gornitzky & Co. represented Yitzhak Tshuva in the successful negotiations  for securing a debt settlement between Delek Real Estate Ltd. and its bondholders.

 

After over a year of negotiations between Delek Real Estate, controlled by Yitzhak Tshuva, and its bondholders, a debt settlement was finally signed, which will involve a 65% discount on the NIS 2.15 billion owed to the bondholders.  The settlement was approved by the Tel Aviv District Court.

 

Yitzhak Tshuva was represented by Mr. Pinhas Rubin (Firm Chairman) and Mr. Ofer Tzur (Partner, Head of Litigation).

August 30th, 2012

Judge Danya Kareth Meyer of the Tel Aviv District Court has rejected the request for a NIS 720 million class action against Yitzhak Tshuva and Delek Group.

Judge Danya Kareth Meyer of the Tel Aviv District Court has rejected the request for a NIS 720 million class action against Yitzhak Tshuva and Delek Group.

 

The request for the class action, filed by attorney Renan Gersht, was rejected by Judge Kareth Meyer based on evidence provided by Gornitzky & Co., which highlighted numerous and significant technical errors in the plaintiff's claims.

 

Tshuva and Delek Group were represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Ofer Tzur (Partner, Head of Litigation), Mr. Kfir Yadgar (Partner) and Mr. Ofer Fleischer.

 

June 18th, 2012

The Tel Aviv District Court dismissed in limine a motion to approve a derivative claim against Bezeq, alleging that the company's shareholders were harmed by the distribution of approximately NIS 7 billion in dividends. Bezeq was represented by Gornitzky & Co.

Judge Ruth Ronen of the Economic Department of the Tel Aviv Jaffa District Court dismissed in limine a motion to approve a derivative claim against Bezeq the Israel Telecommunications Corp. Ltd. (TASE: BEZQ), alleging that the company's shareholders were harmed by the distribution of approximately NIS 7 billion in dividends.


Judge Ronen accepted Bezeq's arguments that the claimant should not be permitted to file such claim, as he is neither a registered shareholder of the company nor a member of its board of directors. Additionally, Bezeq argued that the distribution of the dividends had been approved by the vast majority of the shareholders, at the company's general assembly.


Bezeq was represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Mr. Asaf Avtuvi.

 

April 1st, 2012

Partner Communications (Orange) objected to a motion to file a derivative suit against its directors, which challenged the distribution of dividends and obtainment of loans.

Partner Communications (commercially branded as "Orange") filed an objection to a motion to file a derivative suit against its directors, which challenged the distribution of dividends by Partner and loans obtained during the same period. Gornitzky & Co. responded to the petition on behalf of Partner, claiming that the petition for the approval of the derivative suit is based upon fundamental economic and legal errors, and should therefore be dismissed.

 

Partner Communications (Orange) is represented by Mr. Pinhas Rubin (Firm Chairman), Mr. Lior Porat (Partner) and Ms. Sagit Ohana-Livne (Partner).

January 13th, 2012

Gornitzky & Co. represented Shikun & Binui Ltd. before the Israel's Supreme Court, appealing the rejection of their petition against the win of Shapir Engineering in the tender for the construction and operation of the new NIS 10 billion IDF training camps.

One week before the final announcement of the winning bidder in the tender for the construction and operation of a new IDF training camps, worth approximately NIS 10 billion, Mahanegev, a company owned by Shikun & Binui Ltd., submitted an appeal to Israel's Supreme Court. The company appealed the win of Shapir Engineering (2001) Ltd. in the tender. Gornitzky & Co. represented Shikun & Binui in the appeal and in the filing of an urgent application for an emergency hearing.

 

Mr. Ofer Tzur (Partner, Head of Litigation), Mr. Eli Cohen (Partner) and Mr. Itzchak Lazar lead the representation.

June 13th, 2011

In a precedential decision, Judge Yaakov Sheinman of the District Court in Petach Tikva, accepted arguments made by Gornitzky & Co. on behalf of ImageSat International and dismissed in limine the application to approve a NIS 4 billion derivative action against the company.

In a precedential decision, Judge Yaakov Sheinman of the District Court in Petach Tikva, accepted arguments made by Gornitzky & Co. on behalf of ImageSat International and dismissed in limine the application to approve a NIS 4 billion derivative action against the company.

 

The request for the in limine dismissal of the application was based on the innovative claim that a derivative action in the name of a foreign company cannot be filed in Israel under the Israeli Companies Law.

 

ImageSat International N.V., a leading provider of high-resolution, satellite earth-imagery, which launched and operates the EROS commercial satellites, was represented by Mr. Ofer Tzur (Partner, Head of Litigation) and Mr. Eli Cohen (Partner).

January 19th, 2011

The Tel-Aviv District Court judgment in favor of Dr. Joshua Rosensweig, who was represented by Gornitzky & Co., referred to the firm as a highly respected firm with a reputation separate from its partners.

Gornitzky & Co. represented Adv. Dr. Joshua Rosensweig (a former senior partner at Gornitzky and one of Israel's foremost businessmen) in a lawsuit in which Adv. Avi Gera claimed that Dr. Rosensweig allegedly prevented Adv. Gera from his share in their dissolved joint firm's alleged reputation. Adv. Gera estimated his share of the firm's reputation at NIS 9 million when filing the lawsuit in 2004.

 

Throughout the legal proceedings, which lasted nearly 7 years, prominent Israeli businessmen testified on behalf of Dr. Rosensweig, including Mr. Tzadik Bino, Mr. Israel (Izzy) Tapuchi, Mr. Benjamin Jesselson, Mr. Yair Hamburger and C.P.A. Aharon Zohar.

 

The Tel-Aviv District Court (Honorable Judge Ruth Ronen) ruled in favor of Dr. Rosensweig, stating that the dissolved firm had no reputation separate from that of its partners. In her judgment, Judge Ronen wrote that only in rare cases does a law firm have a reputation separate from the identity of its partners, and referred specifically to Gornitzky & Co. as an example of a highly respected firm with a reputation independent from its partners

 

The team handling the representation included Pinhas Rubin (Firm Chairman), Noam Ronen (Partner) and Ofer Fleischer.